5 Best Las Vegas Stocks to Buy Right Now

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In this article, we will discuss 5 best Las Vegas stocks to buy now. For a detailed analysis of these companies, you can directly go to 11 Best Las Vegas Stocks to Buy Now.

5. DraftKings Inc. (NASDAQ:DKNG)

No. of Hedge Fund Holders: 34

DraftKings Inc. (NASDAQ:DKNG) is a digital sports entertainment and gaming company. It is involved in offering users with daily fantasy sports (DFS), sports betting, and iGaming opportunities.

Churchill Downs Incorporated (NASDAQ:CHDN) and DraftKings Inc. (NASDAQ:DKNG) announced a multi-year agreement, bringing pari-mutuel wagering on horse racing to DraftKings Inc. (NASDAQ:DKNG).

DraftKings Inc. (NASDAQ:DKNG) saw strong revenue growth of 136% to $502 million in Q3 2022 against $213 million in Q3 2021.  Effective customer engagement and strong product and technology enhancements supported the company’s revenue growth. The company raised its fiscal year 2022 revenue guidance to $2.16 billion to $2.19 billion from $2.08 billion to $2.18 billion announced previously. This updated 2022 revenue guidance range exhibits year-over-year growth of 67% – 69%.

Overall, 34 out of the 920 hedge funds tracked by Insider Monkey reported owning shares of DraftKings Inc. (NASDAQ:DKNG) at the end of the third quarter of 2022. In the preceding quarter, 27 elite hedge funds held stakes.

Morgan Stanley covered the shares of DraftKings Inc. (NASDAQ:DKNG) and reduced its target price on shares of the company from $28.00 to $20.00. They gave an “Overweight” rating on the stock on November 21.

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